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What is a vostro account? How banks hold money for each other

By SendPay Business · · 2 min read

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A vostro account is an account that a bank holds for another bank, in its own currency. The name comes from the Latin for "yours": from the holding bank's side, it is "your account with us".

Vostro vs nostro

It is the same account seen from two sides. If a UK bank keeps US dollars in an account at a US bank, the UK bank calls it its nostro ("ours") account, and the US bank calls it a vostro ("yours") account.

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How it moves money abroad

  • A customer of a foreign bank sends money to someone in the UK.
  • The foreign bank's vostro account at a UK bank is debited.
  • The UK bank pays the money on to the receiver's account.

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Why it matters to customers

When a payment passes through one or more of these banking relationships, each bank in the chain can take a fee. That is one reason an international transfer can arrive with less than was sent.

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Where SendPay fits

SendPay platforms include GBP, EUR and USD accounts and international transfers under your own brand, powered by licensed partners.

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How it works

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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.

Questions people ask

Is this SWIFT code valid?

Check a SWIFT code's format and read its parts.

SWIFT code checker →
What is a nostro account?

The same account seen from the other bank's side.

What is a nostro account? →
What is a SWIFT code?

The code banks use to find each other abroad.

What is a SWIFT code? →
Why do transfers cost money?

Transfer fees and mark-ups explained.

International transfer fees →

Read next

Spotted a mistake or something out of date? and we'll fix it. How our guides are made

This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.